The aim of the study is to identify criteria for socio-economic cost analysis based on economic theory. These criteria will be used to evaluate three cost analysis models through a simulation of two natural disasters affecting different roads. The method used to achieve the aim of the study was a socioeconomic cost analysis, with focus on the costs involved. This study has been delimited to private and freight traffic in Sweden. The results show a variation in the final costs and the sensitivity analysis show that the annual average daily traffic and the value of time has an effect on the result. One of the models only fulfills two of the criteria while the other two models fulfill all. It will entail further research and development regarding these models in order to develop a model that best utilizes the inputs and reflects the actual outcome of an event such as the ones simulated in this study.